Apple's Value Plummets $190B In 2 Days: Is iPhone Launch Week Always Troubled?
Portfolio Pulse from Shanthi Rexaline
Apple Inc. (NASDAQ:AAPL) faced a challenging week with its stock value plummeting by $190 billion in two days due to competition from Huawei and a limited ban in China. The stock had been on an upward trajectory since 2022, but faced a period of weakness due to expectations of further rate hikes by the Federal Reserve. The stock hit a low point in late August but was showing signs of recovery, bolstered by positive expectations surrounding the upcoming iPhone 15 launch event. However, a double blow struck the stock hard, resulting in a significant 6.4% pullback on Wednesday and Thursday.
September 11, 2023 | 8:30 am
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Apple's stock value plummeted by $190 billion in two days due to competition from Huawei and a limited ban in China. The stock had been on an upward trajectory since 2022, but faced a period of weakness due to expectations of further rate hikes by the Federal Reserve.
The news directly impacts Apple's stock as it mentions a significant drop in its value due to competition and regulatory issues. The company's stock had been on an upward trajectory, but the recent events have caused a significant pullback. This could potentially affect investor sentiment and lead to further volatility in the stock's price.
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